We bought a 1969 Caravel in what I would call good condition. All of her electricity is working, water lines are good and the holding tank is fine. The stove and hot water works. We have one problem with the sewage tank but I think it is an easy fix. The exterior is in pretty good shape, not super shiny, but no major dings and windows and screens are fine. We paid 4500. Did we do okay?

No one can tell you if you did okay or not. and it really shouldnt matter. There will be those that say you payed 4500.00 too much for it...or those that say I paid 6500 for mine and you got a screaming deal. what matters is unfortunately the money you spend after your initial purchase but who cares there too....if YOU'RE happy that you own an AS then there is no amount of money saved that can take that away from you. Just get the job done and enjoy.

Potential issues you should investigate soon are rot in the floor, rust in the frame, and whether or not it needs a new axle. If it's on the original axle, it probably does.

What's the black tank problem you mention? Are you aware that 60s Airstreams don't have a graywater tank? Water draining from the sinks, shower, etc. enter the dump pipe below the dump valve and go directly overboard. In the 60s it was standard practice to simply drain graywater onto the ground. (Still legal in many jurisdictions.)

Wonderful purchase and welcome to the Airforums. There is a very active group of Airstreamers here in GA. We are planning a camp out at Chattahoochi Bend State Park March 15-17. Please join us. If for no other reason than to have a bunch of people happy to answer your what's this? and How do I? questions.

I think you landed a pretty decent deal. No need for buyers remorse with an Airstream. We looked at a 1971 25 foot International last year with a solid price of $7200.00 to use in smaller areas than towing the 31 footer. I thought that was extremely pricey, it was pretty clean, but the awning had been torn off and needed to be replaced as well as where the brackets were needing to be patch. You could see where it had leaked, and knew this would cost some money to fix nicely.
I then came across a friend who knew a friend that had a small 1958. They wanted close to $4000.00 and it had to be put on a flat bed trailer to be towed back.
So looking back, if I came across something like you found that needed to be cleaned and some systems replaced for $4500.00 I would be very pleased. So should you.
It may need some work to make it road worthy and comfortable. But if and when you get discouraged, you can find in most classified sections of the paper, a ten year SOB for sale for about $4500.00-$8500.00. New they go close to $18-28K, so folks buying them think they are getting a good deal in which they are by saving lots of money.
You guys got a great deal just due to the history and the Airstream community.
Welcome aboard and make every breakdown an adventure as things will work out, just fine, hopefully.

You guys are amazing and I love this community! As far as the rally in March it sounds like a blast! Not sure that we will be quite ready by then but you never know! I am knee deep in paint and still have flooring and fabrics ahead. Also, my favorite band is playing in Savannah the next weekend so that's a lot of traveling... However, I will keep it in mind and would love to maybe catch the next one. I will try and find the calendar for u guys on this site.